Accessibility Links
To include more than one recipient, please separate each email address with a semi-colon ';'
You may email your comment to a friend To include more than one recipient, please separate each email address with a semi-colon ';'
OMX’s disciplinary committee has fined the Swedish bank, Carnegie, SEK 300,000 ($46,636). The fine follows an investigation into claims that a bank broker deliberately placed orders with the intention of misleading the price of another derivative instrument.
The committee concluded that at the end of April, a broker employed by Carnegie placed buy and sell orders for an index future on OMX that resulted in the price of four options in the same index to change. The transaction allowed the broker to sell 50 contracts at a price higher than what would have been available had the broker not exercised the buy and sell orders.
The committee concluded that even though the transactions did not involve any substantial amounts, the disciplinary committee concluded that they represented a serious breach of the regulations and ordered Carnegie to the penalty.
“At this point in time, we will not be supporting this [parliamentary] inquiry. But we put it on notice that in a future time, which we envisage will be in the next four weeks or so, we will, unless Wayne Swan does the bleeding obvious and stops this going forward,”
Australian senator Barnaby Joyce on the proposed ASX-SGX merger